Align Technology (ALGN) Releases Quarterly Earnings, Beats Estimates By $0.08 EPS
Align Technology (NASDAQ:ALGN) released its earnings data on Friday. The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.08, American Banking News.com reports. The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $172.24 million.
Align Technology (NASDAQ:ALGN) opened at 58.49 on Friday. Align Technology has a 1-year low of $29.53 and a 1-year high of $65.10. The stock’s 50-day moving average is $58.71 and its 200-day moving average is $51.03. The company has a market cap of $4.698 billion and a P/E ratio of 151.95.
A number of research firms have recently commented on ALGN. Analysts at Stifel Nicolaus raised their price target on shares of Align Technology from $60.00 to $65.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. On a related note, analysts at Cantor Fitzgerald raised their price target on shares of Align Technology from $60.00 to $65.00 in a research note to investors on Tuesday. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Align Technology in a research note to investors on Friday, January 10th. They now have a $72.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Align Technology presently has an average rating of “Hold” and an average price target of $53.33.
Align Technology, Inc (NASDAQ:ALGN), designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics, and dental records storage.
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